stay away from Bank of Georgia

Flatworld

Building Trust
Entrepreneur
I got message from Bank of Georgia online customer service that:

"as non-resident account, you can't transfer USD to other banks, you can only transfer GEL~"

"We don't know when it will fixed...even you go to Georgia, you can't transfer USD, unless you're resident of Georgia"

....it's crazy~ :(
 

Bmw850

Trusted Member
Business Angel
Mentor Group
Seems we have broken relationship between U.S. and Georgia here :) .
Nice info i was checking this bank for personal account, thanks.
 

Flatworld

Building Trust
Entrepreneur
so they lie to my...they said it's technical problem at few days ago

According to they said today...it's absolutely regulation problem...I'm afraid their USD Intermediary (Citi bank) has problem now~
 

darkster

Trusted Member
Business Angel
Mentor Group
Commercial Service
Thanks for the info, indeed what I thought already.
 

OTR365

Building Trust
Entrepreneur
.I'm afraid their USD Intermediary (Citi bank) has problem now
Slightly off topic: Very recently I wired a low 5-figures USD to my account at TBC, using Citibank as a correnspondence bank. No issues whatsoever. If there was a larger issue between the U.S. financial watchdog and Georgia, it would be reflected not only with BoG, but also TBC, Terabank etc. So, perhaps it is just BoG?

Of course, getting money in is easier than getting it out. :p There, I put my faith in my debit card.
 

Flatworld

Building Trust
Entrepreneur
Slightly off topic: Very recently I wired a low 5-figures USD to my account at TBC, using Citibank as a correnspondence bank. No issues whatsoever. If there was a larger issue between the U.S. financial watchdog and Georgia, it would be reflected not only with BoG, but also TBC, Terabank etc. So, perhaps it is just BoG?

Of course, getting money in is easier than getting it out. :p There, I put my faith in my debit card.
thanks for your sharing...it's may just BOG's problem...
 

darkster

Trusted Member
Business Angel
Mentor Group
Commercial Service
Slightly off topic: Very recently I wired a low 5-figures USD to my account at TBC, using Citibank as a correnspondence bank. No issues whatsoever. If there was a larger issue between the U.S. financial watchdog and Georgia, it would be reflected not only with BoG, but also TBC, Terabank etc. So, perhaps it is just BoG?

Of course, getting money in is easier than getting it out. :p There, I put my faith in my debit card.
You should open a new thread rather than destroy a current good thread starters posting!
 

Nishizawa

Member
OMG... The most worried situation was become reality. Even faster than I expected.

Why do the countries that dominate the world always interfere with my work? Now I have to find alternative again...
 

Bluepearl

New Member
Tbc is not a pearl also. They had sudden moves, non professional communication. What would be alternative if not bog or tbc?
 

Bmw850

Trusted Member
Business Angel
Mentor Group
Maybe something happen there but until now for me it is still working and good as in the past. So no need to enter in panic mode. Relax guys, let's and wait and see.
 

Flatworld

Building Trust
Entrepreneur
Maybe something happen there but until now for me it is still working and good as in the past. So no need to enter in panic mode. Relax guys, let's and wait and see.
can you still transfer USD to other banks using BOG's internet banking?
 

Bmw850

Trusted Member
Business Angel
Mentor Group
can you still transfer USD to other banks using BOG's internet banking?
I don't have BOG only terabank.
I haven't any outgoing payment in usd this week. But I did receive usd last week.
 

Admin

Forum Moderator
Staff member
I don't have BOG only terabank.
I haven't any outgoing payment in usd this week. But I did receive usd last week.
For how long have you been using Terabank by now? I'm asking because I consider them for account opening.
 

Bmw850

Trusted Member
Business Angel
Mentor Group
For how long have you been using Terabank by now? I'm asking because I consider them for account opening.
Since 2017. I can give you a complete feedback. I use them with several entities.
But globally it s a go go.
 

Flatworld

Building Trust
Entrepreneur
Since 2017. I can give you a complete feedback. I use them with several entities.
But globally it s a go go.
bank wire fee 0.2% right?
min 15 USD, max 500 USD...per transfer~

all georgian banks have similar international transfer fee...
 

OffCap

Building Trust
Entrepreneur
You can negotiate fees down with Georgian banks if you've got large balances.

TBC you basically need local substance now. I'd expect you will need the same with BOG soon. Both TBC and BOG are good banks though if you run your business properly.
 

OffCap

Building Trust
Entrepreneur
I think there's probably a bit of misinformation here. There doesn't seem to be a universal problem with USD transfers it's account specific. Would be curious to know what sorts of accounts those involved are holding and what their relationship is with the bank.
 

Flatworld

Building Trust
Entrepreneur
it seems back to normal now...

"Greetings from bank of Georgia ,

Dear XXXX,

Please try again to make the transfer ,

Also please take a look that , in the case of transferring in Georgia in Different Bank and in another currency ( not GEL ) , you will need to write down the Recipient Country of Residence and Recipient Address and in Description line you can use only 66 symbols,

Please let us know the result ,

Best Regards ,

Customer Service Team | JSC Bank of Georgia"


this kind minor update...in China it may takes one hour to online again~but BOG take one week and freeze the USD transfer~

I think the problem is I'm from China...can't understand this kind inefficiencies :p
 
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